J.C. Penney merchandising officer departs

By Associated Press
June 25, 2009 | Comments (0)

Recs

0

The J.C. Penney Co. chief merchandising officer has resigned to accept a position as CEO of athletic footwear and apparel retailer Foot Locker Inc.

Ken C. Hicks, 56, has resigned from his position as president and chief merchandising officer at J.C. Penney, effective July 6. He will leave the company's board that day as well.

Until a successor is found, CEO Myron E. Ullman III will assume Hicks' responsibilities, the company said in a statement.

Hicks held the merchandising position since 2005. He joined the company in 2002 as president and chief operating officer of J.C. Penney's stores and merchandise operations.

He takes over as CEO of Foot Locker and becomes a board member on Aug. 17.

He succeeds Matthew D. Serra, who has been Foot Locker's CEO since March 2001.

Serra, 64, will continue as Foot Locker's board chairman until his planned retirement on Jan. 30, 2010.

He will also retire from the board on that day.

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

TD AMERITRADE
more info
ShareBuilder
more info
Power E*Trade

more info
Scottrade
more info
Fool Disclosure

DocumentId: 929144, ~/Articles/ArticleHandler.aspx, 12/1/2009 11:15:18 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

The Must-Read Story on Fool.com
Is Everybody Losing It in Finance's Nervous Breakdown?

By The Motley Fool

Is Everybody Losing It in Finance's Nervous Breakdown?

Related Tickers

12/1/2009 4:00 PM
FL $9.85 Up +0.36 +3.79%
Foot Locker, Inc. CAPS Rating: **
JCP $28.81 Up +0.07 +0.24%
J.C. Penney Compan… CAPS Rating: **

Community: Investing Wiki

Term Of The Hour

Dollar-cost averaging: Dollar-cost averaging is the discipline of regularly buying shares of stock. An investor using this long-term technique would invest a set amount every month, as opposed to saving it up and investing it in one lump sum.

Want to learn more or edit this definition?
Click here to read more!